LaSalle hires Deutsche exec – Exclusive

The Chicago-based investment manager is filling the vacant role of head of US acquisitions.

LaSalle Investment Management has tapped a longtime Deutsche Asset Management executive as its new head of US acquisitions, the firm’s Americas chief executive, Jason Kern, told PERE.

Brad Gries, formerly a managing director at Deutsche Asset Management, starts at LaSalle on August 18. He will be based in the firm’s Chicago headquarters and report to Kern. At LaSalle, Gries will lead US real estate investments and work with global investors on US investment opportunities.

Gries spent 16 years at DAM, formerly known as RREEF, where he most recently led the acquisitions team in the central and south-east US. Prior to that, he worked at private real estate firm MB Real Estate and accounting firm Arthur Andersen, according to his LinkedIn profile.

He replaces Derek Lopez, who took on the role of US acquisitions head in March 2014 and left the firm in the first quarter. It was unclear what Lopez has been doing since then.

In his new role, Gries will be working across US markets and property types, and leading the firm’s 20-person acquisitions team.

“Internally, our head of acquisitions at LaSalle is a critical role that's at the nexus of everything we do in terms of working very closely with a number of teams,” Kern said. “This role requires a strong leader and a strong cultural fit, and Brad definitely checks those boxes.”

LaSalle closed over $5 billion of US real estate deals from Q4 2015 through Q1 2017, Kern said. The firm’s US business is split between core properties, which comprise about half of acquisition activity, and core-plus and value-added deals.

Overall, the firm oversees about $58 billion in assets.